We have audited the accompanying Standalone financial statements of Qualitek Labs Limited (“the
Company”), which comprises the standalone Balance Sheet as at March 31, 2026, the standalone Statement
of Profit and Loss, Standalone Statement of Cash Flow, for the year then ended, and notes to the Standalone
financial statements, including a summary of the significant accounting policies and other explanatory
information (hereinafter referred to as “Standalone Financial Statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
Standalone Financial Statements give the information required by the Companies Act, 2013 (“the Act”) in
the manner so required and give a true and fair view in conformity with the accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2026, its profit, cash flows for the
year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SA”) specified under section 143(10)
of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities
for the Audit of the Standalone Financial Statements section of our report. We are independent of the
Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India
(the “ICAI”) together with the ethical requirements that are relevant to our audit of the Standalone Financial
Statements under the provisions of the Act, and the rules made thereunder, and we have fulfilled our other
ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the
Standalone Financial Statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the Standalone Financial Statements of the current year. These matters were addressed in the

context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters.

We have determined that there are no Key Audit Matters to be communicated in our report.

Information other than the Standalone Financial Statements and Auditor’s Report Thereon

The Company’s Board of Directors is responsible for the other information. The other information comprises
the information included in the Annual Report, but does not include the Standalone Financial Statements
and our auditor’s report thereon.

Our opinion on the Standalone Financial Statements does not cover the other information and we do not
express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
Standalone Financial Statements or our knowledge obtained in the audit or otherwise appears to be
materially misstated. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.

The other information is expected to be made available to us after the date of this auditor’s report. When
we read the other information, if we conclude that there is a material misstatement therein, we are
required to communicate the matter to Those Charged with Governance and take the necessary actions, as
applicable under the relevant laws and regulations.

Responsibility of Management and Those Charged with Governance for the Standalone Financial
Statements

The Company’s management and board of directors are responsible for the matters stated in Section 134(5)
of the Act, with respect to the preparation of these Standalone Financial Statements that give a true and
fair view of the financial position, financial performance of the Company, and cash flows of the Company
in accordance with the accounting principles generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act, read with relevant rules issued thereunder.

This responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the act for safeguarding of the assets of the Company and for preventing and detecting frauds
and other irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring the accuracy and completeness of
the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements
that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Statements, the Board of Directors are responsible for assessing the
company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management either intends to liquidate the company
or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the company’s financial reporting process.

Auditor’s Responsibility for the Audit of Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
Standalone Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone Financial Statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting
a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal
control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are
also responsible for expressing our opinion on whether the Company has adequate internal financial
controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.

• Conclude on the appropriateness of management & Board of Director’s use of the going concern basis
of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related
to events or conditions that may cast significant doubt on the Company’s ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditor’s report to the related disclosures in the Standalone Financial Statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor’s report. However, future events or conditions may cause the Company to cease
to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Standalone Financial Statements,
including the disclosures, and whether the Standalone Financial Statements represent the underlying
transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

From the matters communicated with those charged with governance, we determine those matters that
were of most significance in audit of the Standalone Financial Statements of current period and are
therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation
precludes public disclosure about the matter or when, in extreme rare circumstances, we determine that a
matter should not be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication. We have
determined that there are no key audit matters for the year.

Report On other Legal & Regulatory Requirements

As required by the Companies (Auditor’s Report) Order 2020 (“the Order”), issued by the Central
Government of India in terms of sub section(11) of section 143 of the Act and on the basis of such checks of
the books and records of the company, as we considered appropriate and according to the information &
explanation given to us, we give in the Annexure “A”, a statement on the matters specified in Paragraph
3 and 4 of the order, to the extent applicable.

As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge
and belief were necessary for the purposes of our audit.

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it
appears from our examination of those books.

(c) The Standalone Balance Sheet, the Standalone Statement of Profit and Loss and the Standalone
Statement of Cash Flow Statement dealt with by this Report are in agreement with the books of
account.

(d) The aforesaid Standalone Financial Statements comply with the Accounting Standards specified under
Section 133 of the Act.

(e) On the basis of the written representations received from the directors as on March 31, 2026, and taken
on record by the Board of Directors, none of the directors is disqualified as on March 31, 2026 from
being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to adequacy of the internal financials control over financial reporting of the company and
the operating effectiveness of such controls, refer to our separate report in “Annexure B”

(g) With respect to the other matter to be included in the Auditor’s Report in accordance with the
requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanations given to us, the
remuneration paid/ provided by the Company to its directors during the year is in accordance with the
provisions of section 197 of the Act;

(h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:

(i) The Company do not have any pending litigations as on the date of Standalone Financial
Statements- Refer note no. 30 on Contingencies & Commitment.

(ii) The Company did not have any long-term contracts including derivative contracts having any
material foreseeable losses for which provision was required to be made under the applicable
law or accounting standard.

(iii) There are no amounts required to be transferred to the Investor Education and Protection Fund
by the Company.

(iv) a) Management has represented that, to the best of its knowledge and belief, no funds have

been advanced or loaned or invested (either from borrowed funds or share premium or any
other sources or kinds of funds) by the company to or in any other person(s) or entity(ies),
including foreign entities (“Intermediaries”), with the understanding, whether, directly or
indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the company (“Ultimate Beneficiaries”) or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries.

b) Management has represented to us that, to the best of its knowledge and belief, no funds
have been received by the Company from any person or entity, including foreign entity
(“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that
the Company shall, whether, directly or indirectly, lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate
Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

c) Based on our audit procedure conducted that have been considered reasonable and
appropriate in the circumstances, nothing has come to our attention that cause us to believe
that the representation given by the management under paragraph (2)(g)(iv)(a) and (b)
contain any material misstatement.

(v) The Company has not declared or paid any dividend during the year. Hence, reporting the
compliance with Section 123 of the Act is not applicable.

(vi) Based on our examination which included test checks, the company has used an accounting
software for maintaining its books of account for the financial year ended March 31, 2026, which
has a feature of recording audit trail (edit log) facility and the same has operated throughout
the year for all relevant transactions recorded in the software. Further, during the course of our
audit we did not come across any instance of audit trail feature being tampered with.
Additionally, the audit trail has been preserved by the Company as per the statutory
requirements for record retention.

For J Madan & Associates
Chartered Accountants
FRN: 025913N

Sd/-

Naveen Kumar

Partner

M. NO. 536759

UDIN: 26536759QLGNYZ6828

Place: New Delhi
Date: May 20, 2026